pSTAKE is a liquid staking protocol unlocking the liquidity of staked assets built by Persistence.

pSTAKE liquid staking protocol is designed for assets in Proof-of-Stake networks. It allows users to earn rewards on their staked assets while also maintaining their liquidity. pSTAKE issues staked tokens for all assets staked within its ecosystem, leveraging the capabilities of an inter-blockchain bridge called 'pBridge' to interact with various blockchains, including Ethereum, Cosmos, and Persistence.

Key features of pSTAKE include:

Inter-blockchain bridge ('pBridge'): This bridge enables the transfer of value between different blockchains. Unlike other bridges that only allow the creation of pegged tokens, pBridge goes a step further by facilitating staking and unstaking at the protocol level within the native chains.

Dual token model: pSTAKE employs a dual token model that simplifies the staking and rewards mechanisms for users. It mirrors the operations of the PoS networks it supports. Users can convert their assets into pTokens, which are 1:1 pegged ERC-20 tokens representing unstaked assets. These pTokens can be staked with pSTAKE to generate stkTokens, which are 1:1 pegged tokens representing staked assets. stkTokens accrue staking rewards in pTokens and can be used within the broader Ethereum DeFi ecosystem.

Fungible stkTokens: All issued stkTokens are fungible, meaning they can be traded interchangeably. The distribution of staked assets across a group of validators is governed by pSTAKE token holders, ensuring proportional stake distribution.

pSTAKE essentially offers a way for PoS asset holders to earn rewards without locking up their assets, providing both liquidity and yield in a secure and efficient manner.

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